Shifting policies under US President Donald Trump’s administration are expected to heighten market volatility in Hong Kong this year, the finance chief has said, but he also expressed “cautious optimism” about the capital market, noting that business and political leaders he met at the World Economic Forum viewed the city much more positively than in previous years.
In an exclusive and wide-ranging interview with the Post, Financial Secretary Paul Chan Mo-po said: “Despite the [geopolitical] challenges, as long as we keep the Hong Kong market open, free, properly regulated, adhering to best international standards and attracting quality companies to list here, [Western investors] will remain very interested in our market.”
Wrapping up his four-day stay in Davos, Switzerland, Chan said Hong Kong had to accelerate innovation and technology (I&T) development for quality jobs and economic growth, and that strategically attracting tech firms to the city was crucial for strengthening its tech ecosystem.
Discussing the market outlook amid escalating tensions between the US and its European allies over Greenland, Chan said political and business leaders in Davos had focused on evolving US policies and their implications for the global economy.
The finance minister remained tight-lipped about his recent conversations with Jensen Huang, CEO of the AI chipmaking giant Nvidia, but said his exchanges with other participants at the forum showed that sentiments about Hong Kong’s prospects this year had shifted, with more viewing the city “a lot more positively” after earlier scepticism about investing in Hong Kong and mainland China.
The government said on Friday that Chan held separate meetings with Mohamed Kande, global chairman of PwC, AXA Group chief executive Thomas Buberl and Michael Punke, Amazon Web Services’ vice president of global public policy.
